ABC aired supposedly shocking footage Monday and Sunday purporting to be from the forefront of the battle between the Syrian Kurds and the invading Turks. The only problem is, the footage appears to come from a nighttime machine gun demonstration at the Knob Creek Gun Range in West Point, Kentucky.
The images would indeed be stunning were they actually from northern Syria. It would be horrific if the images showed a Turkish assault on Kurdish civilians. But the images do not show that. The footage, which appears to be from 2017, shows American gun enthusiasts putting on a terrific pyrotechnic show for an American audience. In fact, the Machine Gun Shoot and Military Gun Show, which includes the very popular night shoot, is a biannual event at the Kentucky gun range. People love the show. They love it so much, in fact, that they often record it and post video of it to social media
“We’ve taken down video that aired on World News Tonight Sunday and Good Morning America this morning that appeared to be from the Syrian border immediately after questions were raised about its accuracy,” a network representative told the Washington Examiner. “ABC News regrets the error.”
Here’s the news report from ABC below:
And here’s another angle, but from a spectator at Knob Creek:
It pays to be leery of any news source, but with current information technology it’s impossible to not be fact-checked a million times in a matter of seconds. It must take a severely inflated sense of entitlement and narcissism to not check sources when publishing national news!
After 50 years with their current owners, and 70 years in business, Sierra Bullets has been sold.
If you’ve reloaded for any length of time at all, you’ve gleaned some knowledge of Sierra Bullets, based out of Sedalia, MO. Great projectiles, fine quality, and trusted pistol and rifle bullets, all sold here at Midsouth Shooters Supply. With our shameless plug out of the way, here’s some more history on Sierra:
What started at a few guys in a Quonset hut in California making rivets for aircraft, front sight ramps, and fishing rod guides, has spun up into one of the top projectile manufacturers in the country, and
it’s all thanks in-part to WWII, and competitive shooting becoming a popular post war sport. Demand was high, and Sierra formed to fill the need for match projectiles. In fact, they still sell the #1400 53 grain MatchKing bullet to this day. You can get yours here!
Flash forward some 20 years to 1969, and Sierra is purchased by BHH Management group. Keep standards high, and developing several new offerings to the reloading community, BHH led Sierra to become a household name in the shooting world. In 1990, when Sierra moved to Sedalia, MO they built a test range, which has led to more advancements like the Tipped MatchKing line of bullets.
Now, with 140 employees, and $30,000,000 per year in stated revenue, BHH has decided to sell to the Clarus Corp. formerly, Black Diamond Group. So, what does the price tag look like? $79,000,000 “subject to a post-closing working capital adjustment”. Clarus is no stranger to the “outdoor” world either. SafariLand, among a few other outdoor retail brands, plus the odd communications and common diversification companies round out their portfolio.
According to StreetInsider.com “The transaction is expected to be immediately lucrative to Clarus’ earnings per share. For the unaudited 12 months ended June 30, 2017, Sierra’s total revenues were approximately $32 million with EBITDA of approximately $12.5 million, representing a purchase price multiple of approximately 6.3x EBITDA. Sierra has a strong cash flow profile, generating free cash flow conversion of approximately 95% with limited ongoing capex requirements.”
“The team at Sierra has continued building on a 70-year legacy dedicated to the highest-level of precision in design, world-class manufacturing and quality control,” said Warren B. Kanders, executive chairman of Clarus. “These attributes have cultivated a diverse customer base of enthusiasts and industry OEMs that drive high recurring revenue and strong cash flow, which we expect to maximize through the utilization of our net operating loss carry forwards.”
Sierra’s President Pat Daly commented: “Our team takes great pride in developing and manufacturing the most precise and accurate bullets in the world. This is supported by our deep institutional knowledge of highly-specialized manufacturing processes that have produced leading products and created a significant competitive advantage. As the only pure-play bullet brand, it was important for us to partner with a team that shares our values and commitment to excellence, and we are excited to join the Clarus family. I look forward to staying on to continue driving our brand growth.” All senior management are expected to remain with Sierra under Clarus’ ownership.
Sierra was kind enough to post to their own blog the answers to a few frequently asked questions since the announcement of the sale.
Will Sierra Bullets be moving?No – Clarus has committed to keeping Sedalia, MO home for all 140 Sierra employees and their families. Unfortunately, our dreams of moving the plant to a private tropical island were quickly squashed.
Will I will be able to get the same great bullets I have come to love?Yes! There are no planned changes to the existing product line, but watch for exciting new additions in the future! Perhaps our dream of making a self-propelled gravity defying gold core titanium bullet will finally be fulfilled!
Are there any changes to the staff?Nope – you are still stuck with all of us from the President on down.
Can I invest in the company that now owns Sierra Bullets?Yes – Clarus Corporation is traded on NASDAQ under the symbol “CLAR”. Or you can continue investing in Sierra Bullets one little green box at a time!
We wish our friends at Sierra the best, and a smooth transition!
What questions do you have about the Sierra Sale? Are you a Sierra reloader? What’s your favorite Sierra bullet?